And the richest 10 people saw their incomes rise by £3.1billion to £96.6billion.

The findings come as politicians join the World Economic Forum in Davos, Switzerland, this week. Duncan Exley, of the Equality Trust, said: “Of all those attending Davos this week, those arriving from Britain should be some of the most worried about inequality.

“The UK is now one of the developed world’s most unequal countries, a fact that should embarrass and shame us.”

A separate a study for the Joseph Rowntree Foundation found at least 8.1 million families live on less than needed to cover a minimum household budget, calculated at £40,400 a year for a couple with two children.

Meanwhile, Oxfam analysis showed the £84trillion wealth of the world’s richest 1% equals that of half the globe’s entire population.